* Copper may revisit Tuesday's low of $8,221-technicals * Worries on Europe economy, slower China demand * Coming Up: US ADP national employment, 1315 GMT (Adds Tongling copper demand forecast, updates prices) By Manolo Serapio Jr SINGAPORE, March 7 (Reuters) - London copper edged off two-week lows on Wednesday after sliding more than 2 percent in the previous session, and traders said prices were likely to fall further due to the shaky outlook for global demand. Risk assets have benefited from an increase in liquidity, but Tuesday's broad sell-off showed investors were now more worried about the poor prospects for raw material demand as Europe faces a full-blown recession and top copper user China lowers its growth target. Three-month copper on the London Metal Exchange was little changed at $8,283.50 a tonne by 0722 GMT, trimming its year-to-date gain to 9 percent from as much as 15 percent in early February, but off Tuesday's two-week trough of $8,221. Copper fell 2.5 percent on Tuesday, its biggest single-day drop in almost a month, to close at $8,289.50. It went below its 200-day moving average of $8,380.97 for the first time in two weeks. There may be more downward pressure ahead for copper given slack Chinese demand and abundant supply, said Grace Qu, analyst at CRU in Beijing. "The problem is that many copper consumers are short of new orders so I don't expect the Chinese to buy aggressively even if the price falls below $8,000," she said. Technical charts suggest LME copper may revisit its Tuesday low of $8,221, said Reuters technical analyst Wang Tao. The most-traded May copper contract on the Shanghai Futures Exchange fell 1.5 percent to close at 59,470 yuan ($9,400) a tonne, catching up with steep losses in London in the previous session. SOLID PROSPECTS Copper began the week lower after China cut its 2012 growth target to an eight-year low of 7.5 percent on Monday, raising concern about its raw material appetite, although some analysts say the fears could be unfounded. China's economic growth had exceeded the government's targets by 2-3 percentage points over the last decade, said the Commonwealth Bank of Australia. "The lower growth target for 2012 might still be consistent with an actual outcome in the low to mid 8 percent range. This is still solid GDP growth, and given the law of large numbers, is consistent with still solid commodity demand prospects," the bank said. Tongling Nonferrous Metals, China's No. 2 copper producer, said it expects domestic copper demand to grow by at least 6 percent this year, supported by the power sector. Top Chinese copper producer Jiangxi Copper was looking at a 7 percent increase in demand. China's trade ministry on Wednesday said imports of energy and raw materials will increase this year, without giving any details. Outside of China, the picture was much bleaker. A collapse in household spending, exports and manufacturing sucked the life out of the euro zone's economy in the final three months of 2011, showing the scope of the downturn that looks set to become a full fledged recession. Greek debt concerns also resurfaced. Greek private creditors have until Thursday night to say whether they will participate in a bond swap that is a key part of a bailout programme to help Athens manage its wrecked finances and meet a debt repayment on March 20. Base metals prices at 0722 GMT Metal Last Change Pct Move YTD pct chg LME Cu 8283.50 -6.00 -0.07 8.99 SHFE CU FUT MAY2 59470 -920 -1.52 7.42 HG COPPER MAY2 376.15 2.50 +0.64 9.47 LME Alum 2242.50 7.00 +0.31 11.01 SHFE AL FUT MAY2 16165 -10 -0.06 2.02 LME Zinc 2026.50 14.50 +0.72 9.84 SHFE ZN FUT MAY2 15515 -245 -1.55 4.87 LME Nickel 18853.00 108.00 +0.58 0.76 LME Lead 2079.00 11.00 +0.53 2.16 SHFE PB FUT 15630.00 -270.00 -1.70 2.26 LME Tin 22310.00 0.00 +0.00 16.20 LME/Shanghai arb^ 1784 Shanghai and COMEX contracts show most active months ^ LME 3-month copper in yuan, including 17 pct VAT, minus SHFE third month

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